Understanding the Market

Market Type Characteristics Implication for Sellers

Buyer's Market Buyer's Market Buyer's market

Supply of homes for sale exceeds buyers available Large number of homes for sale. Homes usually sell more slowly. Prices stabilize (or) sometimes decrease. Buyers have more time to look before deciding. Sellers have less negotiating power. Buyers can make lower offers.

Seller's Market Seller's Market Seller's Market

Numbers of buyers exceed supply of homes. Minimal homes for sale. Many buyers. Homes sell quickly. Prices generally increase. Possible setting of a higher selling price. Sellers may reject conditional offers. More time to decide upon the acceptance of an agreement.

Balanced Market Balanced Market Balanced Market

Number of houses on the market for sale is basically equal to buyers Demand equals supply. Sellers accept reasonable offers. Homes sell within a reasonable time. Prices are generally stable. More relaxed atmosphere. Good number of prospective buyers see the home.

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